| Earnings (Loss) Per Share |
11. Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to common shareholders by the weighted average number of the Company’s common shares outstanding and excludes any unvested restricted share units issued pursuant to the 2023 LTIP. Diluted earnings (loss) per share is computed by adjusting basic earnings per share for the dilutive effect of the assumed vesting of restricted share units and assumed conversion of Series B Preferred Shares. During periods of net loss, the assumed vesting of restricted share units and the assumed conversion of Series B Preferred Shares are anti-dilutive and are not included in the calculation of earnings (loss) per share. The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):
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Three Months Ended June 30, |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator for loss per share: |
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Net income (loss) |
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$ |
2,041 |
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$ |
(44,088 |
) |
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$ |
(19,229 |
) |
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$ |
(79,194 |
) |
Net loss attributable to Series A Preferred Shareholders |
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(1,155 |
) |
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(1,155 |
) |
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(2,310 |
) |
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(2,310 |
) |
Net loss attributable to Series B Preferred Shareholders |
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(825 |
) |
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(28 |
) |
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(1,379 |
) |
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(30 |
) |
Net income attributable to noncontrolling interests in NHT |
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— |
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— |
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— |
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1,945 |
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Net income attributable to redeemable noncontrolling interests in the OP |
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— |
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20 |
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9 |
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20 |
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Net (loss) income attributable to common shareholders |
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$ |
61 |
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$ |
(45,251 |
) |
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$ |
(22,909 |
) |
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$ |
(79,569 |
) |
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Denominator for earnings (loss) per share: |
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Weighted average common shares outstanding |
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51,753 |
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45,687 |
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50,923 |
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44,303 |
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Denominator for basic loss per share |
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51,753 |
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45,687 |
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50,923 |
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44,303 |
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Weighted average unvested restricted stock units |
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350 |
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2,016 |
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186 |
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1,694 |
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Weighted average number of common shares from assumed conversion of OP Units |
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16 |
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— |
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8 |
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— |
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Weighted average number of common shares from assumed conversion of Series B Preferred Shares |
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8,321 |
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184 |
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7,267 |
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14 |
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Denominator for diluted earnings per share |
(1) |
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60,440 |
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45,687 |
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50,923 |
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44,303 |
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Earnings (loss) per weighted average common share: |
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Basic |
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$ |
— |
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$ |
(0.99 |
) |
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$ |
(0.45 |
) |
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$ |
(1.80 |
) |
Diluted |
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$ |
— |
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$ |
(0.99 |
) |
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$ |
(0.45 |
) |
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$ |
(1.80 |
) |
(1)If the Company sustains a net loss for the period presented, unvested restricted share units and convertible Series B Preferred Shares are not included in the diluted earnings per share calculation. |